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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] It was understood that on the 17th, the appellate court judge handling Choi Tae-won (63), SK Group Chairman's divorce case with No So-young (63), Director of Art Center Nabi, partially amended the ruling document. The court maintained the decision to require Choi to pay over 1.3 trillion won in property division resulting from the divorce.
Choi's side pointed out at a press conference that the amended judgment still did not correct what they termed a "fatal error," particularly regarding the attribution of stock value appreciation. However, the overall outcome of the ruling remained unchanged.
Choi's representatives stated, "The issue cannot be resolved merely by adjusting the numbers," and they raised objections accordingly.
According to legal and corporate circles, the Seoul High Court's Family Division 2 (Presiding Judges Kim Si-chul, Kim Ok-gon, and Lee Dong-hyun) issued a decision on the judgment and sent the certified copy of the decision to both parties.
Initially, the court had calculated the value of SK C&C (the predecessor of SK C&C & SK Telecom) at the time of its acquisition by Chairman Choi in November 1994 at 8 won per share, rising to 100 won per share just before the passing of former Chairman Choi Jong-hyun in May 1998, and eventually reaching 35,650 won per share when SK C&C was listed in November 2009.
Based on this, the court assessed the contribution of the increase in company value by Chairman Choi and his predecessor as 12.5 times and 355 times, respectively.
In response to Choi's claim, the court acknowledged an error in the stock price valuation in 1998, which was adjusted from 100 won to 1,000 won per share. Consequently, Chairman Choi's contribution was revised from 355 times to 35.6 times.
Nevertheless, the appellate court did not alter the final ruling as it deemed that correcting the error did not necessitate changing the overall outcome of the decision.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
